Asia Cement says China unit given until June for Hong Kong listing, Taiwan

23 February 2005

Asia Cement Corp said its China-based unit, Jiangxi Yadong Cement Co, has been given until June to list in Hong Kong.

"We have been given a six-month grace period even though the approved listing failed to materialize last year," said a company spokesman.

He confirmed reports that the company had decided on the delay, as even the share prices of the mainland’s leading cement companies have not been doing so well in Hong Kong.

"The timing was not so good nowadays as even the shares of (China’s) Anhui Conch Cement have suffered a big decline," he added.

Earlier, the Economic Daily News reported that Asia Cement decided to put off the proposed listing of Jiangxi Yadong Cement in Hong Kong due to the unfavorable share prices of its mainland peers recently.